Bitcoin reclaimed the critical $69,000 price level today as global markets reacted with explosive volatility to President Trump’s record-breaking State of the Union address. The speech, which emphasized a "roaring" national economy, injected an estimated $52 billion into the digital asset market in a matter of hours. This sudden bullish momentum triggered a massive crypto short squeeze news event, resulting in over $571 million in liquidations for bearish traders across major exchanges in the last 24 hours. As institutional capital floods back into the market, analysts are now eyeing a breakout above the psychological BTC resistance 70000.
State of the Union Address Ignites $52 Billion Crypto Rally
President Donald Trump’s State of the Union (SOTU) address on Tuesday delivered a potent shot of adrenaline to financial markets, with the cryptocurrency sector emerging as a primary beneficiary. While the President’s speech focused heavily on broader economic pillars—citing 53 stock market record highs and an influx of $18 trillion into the U.S. economy—crypto investors interpreted the pro-growth rhetoric as a green light for risk assets.
Data from market trackers confirms that during and immediately following the address, the total cryptocurrency market capitalization swelled by approximately $52 billion. This phenomenon, dubbed by some traders as the "Trump Candle," propelled Bitcoin from the low $64,000s to reclaim the $69,000 threshold. The correlation between the Trump economy crypto speech sentiments and digital asset inflows highlights the sector's increasing sensitivity to U.S. macroeconomic policy.
Massive Short Squeeze Wipes Out $571 Million in Bearish Bets
The speed of Bitcoin's ascent caught thousands of leveraged traders off guard. As prices spiked, a cascade of forced buy-backs occurred, creating a classic short squeeze scenario. According to recent derivatives data, total crypto market liquidations topped $571 million over the trailing 24-hour period.
Short positions accounted for the vast majority of this wipeout, with approximately $474 million in bearish bets evaporated. This imbalance suggests that the market was overly positioned for a downside correction, only to be blindsided by the post-SOTU bullishness. The violence of the move has reset funding rates and open interest, potentially clearing the path for a more sustained rally toward the BTC resistance 70000 level.
Bitcoin Price Reclaim 69k: Technical Breakout or Bull Trap?
Technically, the Bitcoin price reclaim 69k marks a pivotal shift in market structure. By closing daily candles above this level, Bitcoin has nullified the bearish divergence that plagued the chart earlier in February. Analysts point to the $69,000 level as a historic pivot point—formerly the 2021 all-time high—now serving as a launchpad for price discovery.
Institutional Confidence Returns: Bitcoin ETF Inflows 2026
Fueling the rally is a renewed appetite from institutional investors. After a brief period of outflows earlier in the month, Spot Bitcoin ETFs have roared back to life. On February 25 alone, U.S. Spot Bitcoin ETFs recorded net inflows exceeding $258 million to $506 million, signaling that smart money is positioning for a leg up.
Looking ahead, projections for Bitcoin ETF inflows 2026 remain robust. Major asset managers like BlackRock and Fidelity continue to see strong demand, suggesting that the current price action is supported by genuine spot buying rather than just derivatives speculation. This institutional floor is critical as Bitcoin attempts to shatter the $70,000 ceiling.
Outlook: Can Bitcoin Break $70,000 This Week?
With the $69,000 level currently being defended, all eyes are on the $70,000 resistance. A clean break above this psychological barrier could trigger another wave of FOMO (Fear Of Missing Out) from retail investors who have been on the sidelines. However, traders should remain cautious of volatility; while the crypto short squeeze news is bullish, the market must digest the rapid gains of the last 48 hours.
If the momentum from the Trump SOTU address sustains, and ETF inflows continue their positive streak, Bitcoin could realistically test its previous all-time highs before the end of the month. For now, the bulls are firmly in control, having successfully squeezed over half a billion dollars from the bears.
